DUBLIN, Ireland, July 30, 2013 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq:TRIB), a leading developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced results for the quarter ended June 30, 2013 and the acquisition of Immco Diagnostics Inc.
Quarter 2 Results
Total revenues for Q2, 2013 were $21.3m which compares to $20.8m in Q2, 2012, an increase of 2.4%.
Point-of-Care revenues for Q2, 2013 increased by 4% when compared to Q2, 2012. This increase was mainly attributable to continued strong demand for HIV products in Africa.
Clinical Laboratory revenues increased from $16.4m to $16.7m, which represents an increase of 2% compared to Q2, 2012. However, due to an unprecedented cold winter and late snowfalls in north-eastern USA, Lyme sales were approximately $750k lower year on year. Meanwhile, non-Lyme sales for the quarter increased by approximately 8%.
Revenues for Q2, 2013 by key product area were as follows:
||2012 ||2013 ||
| ||Quarter 2||Quarter 2|| Increase|
Gross profit for Q2, 2013 amounted to $10.6m
representing a gross margin of 49.8%, which is lower than the 51.6% achieved in Q2, 2012. This decrease is attributable primarily to the impact of lower margins on Premier instrument sales but also due to lower sales of higher margin Lyme products.
Research and Development expenses have increased from $0.8m
when compared to the equivalent quarter last year. Meanwhile, Selling, General and Administrative (SG&A) expenses have increased over the same period from $5.2m
. This increase was due to the acquisition costs of $0.4m
associated with the Immco acquisition.